Total Value Management: New Product Approval, Cost Focus

The New Product Approval, Cost Focus stage of a hospital’s value analysis process is characterized by a basic standardization around commodities. Cost and volume become the primary decision-making factors. Even if a hospital at this stage has a value analysis team or professional on hand, the process will be immature, and the prime considerations will be negotiating better pricing and obtaining product approval.

Under this approach, overhead continues to be unsustainable, and outcomes remain highly variable because decision-making processes are not addressing the root cause of the problem.

Download the Total Value Management white paper written by TractManager’s value analysis experts, Dee Donatelli, Dr. Mark Kestner, Dr. Kristin Stitt, and Dr. Winifred Hayes, and learn how to mature from making event-based decisions to creating and sustaining an evidence-driven culture of collaboration.

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